night, the stockholders of the Tabor
Lake Corporation met in Cedar Lodge for the annual Stockholders'
year's Board of Directors (Mssr. Bolsterle, Green, Gallt, Hyer Johnson)
all elected to another term. Among other things discussed at the
the housing development to the south of Tabor Lake,
summarized an agreement in writing that
we had made with the developer, Mr. Mossberg. Mr. Mossberg agreed that
he nor his successor would urge for the right of way to put Powdermill Road through to Route
10 or to
connect Galloping Hill
with Manor Lane,
a street in Powdermill Estates. We were also granted right of first
five lots adjoining our land. Mr. Mossberg said that he would not build
grassy area behind Lucille's Bend for three to four years because he
buy out the owner below Powdermill Road there, Last summer we made a
agreement with Mr. Mossberg under which he gave us the land the
Anderson's cottage stands on in exchange for an easement for a storm
sewer behind that
cottage. The deed for that land is now in our name on the Morris County
We received a
letter from the town stating that Powdermill Road belongs to us
tracks to Lucille's Bend.
The letter also stated that the lake-front cottages were subject to
zoning under which further building is prohibited.
It was suggested
that the price of stock be
increased from two hundred fifty dollars a share. The argument was that
sell the Lake,
the stock is going to be worth many times that. Opponents of the idea
if the price of stock were raised, the corporation would not want to
stock when people left the Lake.
They said that people would start selling directly to other cottage
speculators would buy and sell cottages just to acquire stock. They
keeping the price low to favor permanent cottagers rather than speculators.
sorry when Mr. and Mrs. Bolsterle
announced their resignation. Nothing could induce them to stay on -
that they wanted at last just to sit and relax. It will be very
us to find someone to take their place.